TAMPA, FL-Another Florida market is readying for new construction. Trammell Crow has started the rezoning process to support new development in Tampa's Central Business District.
The entire project includes a 20-story, 450,000-square-foot office building, a 1,200-car parking garage, and a 350-room, four-star-plus business class hotel. A transit-oriented development with near-direct access via primary north/south arterials, the Crosstown Expressway, Marion Transit Center and the TECO Line Streetcar System.
Bob Abberger, Florida senior managing director for Trammell Crow, says the office building will set a new standard for the market in Tampa's CBD. He tells GlobeSt.com that the company had tenant inquiries as soon as the word was out, a sign he believes underscores that the right product and location wins.
"The building will be designed to LEED Gold Standards and feature large, 28,000-square-foot floor plates," Abberger says. "The supporting parking garage also elevates the project among existing office buildings in downtown. The hotel will benefit both the office development as well as the demands of the new CAMLS facility and other downtown activities."
Currently owned by Collier Enterprises, the site spans four city blocks at the southern end of Marion Street between Florida Avenue and Morgan Street. The future development is located directly east of the new CAMLS facility the University of South Florida is constructing.
"Our downtown continues move forward on many fronts," Ray Sandelli, a senior managing director at CB Richard Ellis, tells GlobeSt.com. "The commitment to this project clearly demonstrates the synergies that can be had as we link key projects into the fabric of our Central Business District."
The hotel is planned for the northwest quadrant of the site, benefiting from traffic associated with the nearby Convention District and the St. Pete Times Forum. Trammell Crow has not yet secured a hotel brand. The site design will remain flexible pending that decision.
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